Robert W. Baird Issues Pessimistic Forecast for Contineum Therapeutics (NASDAQ:CTNM) Stock Price

Contineum Therapeutics (NASDAQ:CTNM) had its target price reduced by stock analysts at Robert W. Baird from $32.00 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 136.34% from the company’s previous close.

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $25.25.

Contineum Therapeutics Price Performance

Shares of CTNM opened at $6.77 on Friday. The firm has a 50 day simple moving average of $10.12 and a 200-day simple moving average of $14.41. Contineum Therapeutics has a 1-year low of $5.92 and a 1-year high of $22.00. The stock has a market cap of $174.52 million and a price-to-earnings ratio of -1.38.

Institutional Trading of Contineum Therapeutics

A number of hedge funds have recently bought and sold shares of CTNM. Legal & General Group Plc boosted its position in Contineum Therapeutics by 74.0% during the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock worth $53,000 after acquiring an additional 1,544 shares during the last quarter. Corebridge Financial Inc. boosted its position in Contineum Therapeutics by 73.1% during the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after acquiring an additional 2,202 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after acquiring an additional 2,783 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Contineum Therapeutics during the fourth quarter worth approximately $103,000. Finally, Rhumbline Advisers boosted its position in Contineum Therapeutics by 36.3% during the fourth quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock worth $121,000 after acquiring an additional 2,191 shares during the last quarter.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on discovering and developing novel oral small molecule therapies for neuroscience, inflammation, and immunology indications with high unmet need. Its lead asset is PIPE-791, a novel, brain penetrant, small molecule inhibitor of the lysophosphatidic acid 1 receptor (LPA1R) for the treatment of idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS).